What is Bitcoin Oil?
Bitcoin Oil (BTCO) is a new cryptocurrency based on the original Bitcoin blockchain technology which will be launched in 2019. The implementation of the BTCO hard fork will create the technologically most advanced version of Bitcoin.
The centerpiece of BTCO and its “Optimally Improved Ledger” (OIL) will be the highly innovative “SSPSS” strategy focusing on the development and implementation of essential Bitcoin improvements in the fields of Stability, Sustainability, Privacy, Smart Sidechains, and Scalability (“SSPSS”), including but not limited to key new Bitcoin blockchain features such as (i.) minimizing Bitcoin’s volatility (i.e. by creating an incentives-based economy), (ii.) drastically reducing Bitcoin’s insane energy consumption (i.e. by altering the consensus protocol to PoS), (iii.) implementing true privacy features (i.e. by enabling confidential transactions), (iv.) empowering Bitcoin based ICOs and STOs (e.g. by employing full smart contract functionalities), and last but not least (v.) developing cutting-edge scalability solutions (i.e. by complete integration of layer 2 protocols and offline transactions).
In this sense, it is very important to understand that Bitcoin Oil – unlike Bitcoin – will not have to follow the lengthy and protracted BIP procedures which make rapid change almost impossible. Contrary to that inhibitor of innovation, Bitcoin Oil has straight forward agreements in place with some of the largest blockchain and Bitcoin development companies in the world, which will be commissioned by us to build Bitcoin’s 2019 BTCO fork and all subsequent improvements thereof.